Massive cuts are coming for the House of Mouse as ABC News shuts down around 200 jobs, as well as key news operations including 538.
Disney is undergoing significant layoffs at ABC News, with approximately 200 employees being let go as part of a broader cost-cutting initiative. This includes the closure of the FiveThirtyEight data journalism site, which was acquired by Disney in 2018. The layoffs are part of Disney's strategy to reduce expenses by $5.5 billion, which also involves cutting back on content production and other operational costs. The decision to close FiveThirtyEight was influenced by its financial performance, with the site not meeting revenue expectations despite its popularity. Additionally, ABC News is restructuring its operations, which includes reducing staff in various departments and potentially selling off assets like ABC News Radio. These moves are reflective of the broader challenges facing traditional media outlets in adapting to digital transformation and economic pressures.
Media & Entertainment
Thu, March 6, 2025
